- Feedzai received highest score possible in 12 criteria, including model building, rules-based risk scoring and alerting, data integration, and segmentation and behavioral profiles
SAN MATEO, Calif. and LISBON, Portugal, Aug. 12, 2021 (GLOBE NEWSWIRE) — Feedzai, the world’s leading cloud-based financial risk management platform, announced that it has been recognized as a Strong Performer in The Forrester Wave™: Enterprise Fraud Management, Q3 2021 Report. The report ranked Feedzai among the top three companies in the strategy category, with scores of 5 out of 5 in eight of the strategy criteria. In addition, Feedzai earned scores of 5 out of 5 in four criteria in the current offering category.
The report evaluated the top enterprise fraud management (EFM) providers and narrowed the scope to those most significant. The evaluation shows how each provider measures up and helps risk management and fraud management professionals select the right solution for their needs.
Feedzai received highest marks possible for criteria that Feedzai believes indicate the strength of its current offering as well as the organization’s strong strategic vision. Feedzai Transaction Fraud achieved the highest scores possible (5 out of 5) in the model building, segmentation and behavioral profiles, data integration, and rules-based risk scoring and alerting. Within the strategy category, the company also received the highest scores possible in the data integration plans, data scientist workflow improvement plans, and investigation and analyst workflow plans. We believe these scores align with the components deemed important by Forrester for EFM customers. According to the report, customers should look for vendors that:
- Provide a flexible and customizable workflow for citizen data scientists to build a model.
- Feedzai scored 5/5 in the model building criterion.
- Integrate the customer’s own and third-party data fast with quality checks and workflow.
- Feedzai scored 5/5 in the data integration criterion.
- Automate maintenance of segmentation of customers and entities.
- Feedzai scored 5/5 in the segmentation and behavioral profiles criterion.
According to the Forrester Wave Report, “Feedzai offers a strong data integration workflow… Capabilities for checking the quality of transaction data that the solution uses for decisioning are configurable and extensive. Rule authoring and versioning are ahead of the competition. The solution also provides a differentiating automatic user segmentation recommendation and creation capability.” The report also states, “Feedzai’s plans for data integration and unsupervised machine learning are ahead,” and “the solution is a nice fit for firms looking for explainable AI models provided on a model authoring workbench.”
“The cashless commerce transition continues to accelerate, but the digitization requirements have changed,” said Varun Kohli, CMO at Feedzai. “Feedzai solutions are engineered to address the high velocity of change in payment and nonpayment fraud. We believe Forrester’s EFM report puts the spotlight on the strength of components that make up the cornerstone of our products. It’s validating to see our products and strategy recognized by a respected third-party. We are continuing to invest in both product innovation and strategy, and we expect our upward trajectory to continue.” The executive added, “Feedzai’s 5/5 score in the segmentation and behavioral profiles criterion – which did not take into account Revelock’s acquisition announced after the report completion – is, in our opinion, a powerful indicator that we are ahead of everyone else in this and other domains.”
Feedzai continues to pave the way with the most advanced cloud platform to manage financial risk, while researching promising machine learning techniques to better protect customers and businesses all over the world. The company also continues protecting its growing technology portfolio with 10 new patents filed in the last 12 months on Responsible AI, Deep Learning, MLOps Automation, AI Observability, and more. The company invests around 26% of its revenue in R&D every year, while the average investment made by successful SaaS companies sits at 23%.
Feedzai’s capabilities are proven across the largest banks, fintechs, e-commerce merchants, and payment processors in the world while providing the only single platform with omnichannel capabilities to manage financial risk.
For a full copy of the Forrester report, go to: https://feedzai.com/resource/
Feedzai is the market leader in safeguarding global commerce with today’s most advanced cloud-based risk management platform, powered by machine learning and artificial intelligence. Feedzai is securing the transition to a cashless world while enabling digital trust in every transaction and payment type. The world’s largest banks, processors, and retailers trust Feedzai to protect trillions of dollars and manage risk while improving the customer experience for everyday users, without compromising privacy. Feedzai is a Series D company and has raised $282M to date with a current valuation of well over $1B. Its technology protects 800 million people in 190 countries. For more information, visit feedzai.com.
Head of Global Communications, Feedzai